The fallout from the Australia's largest corporate collapse is beginning to impact on the drinks industry.

On Monday Foster's lost a director because of the collapse of HIH Insurance last month. And by Thursday De Bortoli Wines, the country's second largest privately owned wine maker, revealed that the collapse will cost it about A$6m (US$3m).

HIH Insurance was the second biggest insurer in Australia but it was put into liquidation by regulators on March 16 after an analysis of company finances.

Regulators now suspect the company may have been insolvent since 1998 and investigations into the company's activities and a number of its directors are now under way.

The collapse is expected to cost shareholders and policyholders A$4bn.

De Bortoli managing director Darren De Bortoli has revealed his company bought 23m shares in HIH between December and January. The price paid would have been between 30c and 26c a share, well down on the $1 price HIH was worth a year ago.

But following the collapse of HIH the shares are worthless. De Bortoli, which makes the Windy Peak, Gulf Station and Noble One wines, has sales of about A$100m a year but does not reveal its profit figures.

But the HIH loss is not expected to significantly effect the De Bortoli family which is thought to be worth an estimated A$104m.

Foster's had to accept the resignation of HIH chairman Geoffrey Cohen from its board on Monday. Cohen has been a director of Fosters for 10 years but his involvement in HIH prompted him to step down while investigations into the collapse continue.

"Mr Cohen joined the board of Foster's in the early 1990s and has played an important guiding role during a period which saw Foster's emerge as one of the world's leading premium branded beverage companies," said Foster's chairman Frank Swan.